Review Process for the 2022 Balanced Budget Update Initiated
Winnipeg – Mayor Brian Bowman and Councillor Scott Gillingham (St. James) Chair of the Standing Policy Committee on Finance, today announced the initiation of the 2022 City of Winnipeg Balanced Budget Update Review Process.
“As cities across Canada continue to weather the storm caused by the global pandemic, this year’s Balanced Budget Update will remain focused on mitigating the impact on the City of Winnipeg’s finances,” said Mayor Brian Bowman. “Thanks to the difficult decisions made during the multi-year balanced budgets in March of 2020, the 2022 Balanced Budget Update will look to keep the budget balanced with tax increases limited to 2.33 percent while continuing to look at ways to be more efficient in the face of pandemic-related financial impacts.”
The 2022 Balanced Budget Update will continue the work done in the 2021 Balanced Budget Update by continuing to address the financial challenges associated with the global pandemic. Councillor Scott Gillingham will be actively engaging all City Councillors to provide information and seek input on the 2022 Balanced Budget Update and how the City will address the pandemic-related financial impacts that will be faced in 2022.
“It was prudent that the 2022 Budget was balanced in March of 2020 as part of the multi-year balanced budget process, however, the ongoing financial impact of COVID-19 will continue to put increased pressure on the City’s ability to reach revenue projections next year,” said Councillor Scott Gillingham. “The City’s operating budget recovery will take multiple years and there is presently no indication that senior levels of government will be providing additional operating funding. The 2022 Balanced Budget Update process will focus primarily on addressing the financial pressures of the pandemic and positioning the city for recovery. As the second annual update to the multi-year balanced budget, adopting the 2022 Balanced Budget Update will be a crucial next step in the ongoing management of City finances.”
The budget working group will be tasked with preparing for a preliminary budget that is balanced, limits property tax increases to 2.33 percent, and invests in our community while Winnipeg emerges from the global pandemic. The budget working group will include the Mayor and the chair of each of the Standing Policy Committees.
Residents, community groups, associations, and other stakeholders will have the opportunity to participate and provide further input on the 2022 Balanced Budget Update once the preliminary operating and capital budget recommendations are tabled publicly. It is anticipated the 2022 Balanced Budget Update will come to a vote before the end of the year. The specific tabling date, as well as the Standing Policy Committee meeting schedule to consider the preliminary budget, will be announced in the coming weeks.